ALABAMA INCENTIVES SUMMARY
Alabama Jobs Act - Jobs Credit
The jobs credit provides an annual cash rebate up to three percent of the previous year gross payroll (not including fringe benefits) for eligible employees for up to ten years. Companies with at least 12 percent of their workforce consisting of veterans may receive an additional one-half percent job credit for the wages of veterans. Companies that locate new facilities in targeted industries or counties may receive an additional one percent job credit. The jobs credit requires a minimum of 50 new jobs or 25 new jobs in a targeted county.
Alabama Jobs Act, Investment Tax Credit
The investment tax credit is an annual award of up to 1.5 percent of the qualified capital investment for up to ten years. Unused tax credits may be sold for up to 85 percent of value for the first three years or may be carried forward for up to five years.
Alabama Reinvestment & Abatement Acts, New Facility and Expansion
Provides a sales and use tax abatement on construction materials, equipment, and other capitalized costs and a property tax abatement of up to 20 years.
Alabama Reinvestment & Abatement Acts, Existing Facility
For properties under renovation, upgraded, or placed back into services, a sales and use tax abatement of taxes paid on construction materials, equipment, and other capitalized costs, a property tax abatement of incremental property tax increases for up to 20 years, and a utility tax abatement for increased utility services for up to ten years.
AIDT offers employee training services including comprehensive pre-employment selection and training, leadership development, continuous process improvement assessments, maintenance assessments, and industrial safety assessments and training, customized to the needs of companies.
Notice: This list of economic development incentive programs is intended to provide a high-level overview of commonly pursued state discretionary programs. A comprehensive analysis of project details will determine the full scope of state and local incentive programs that may be available to support a specific project.